Assume an oligopoly market with two firms

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Assume an oligopoly market with two firms. The inverse demand function and cost functions are as follows: P=150-2(Q1+Q2) and C1=20Q1 and C2=28Q2. Calculate: a. Cournot dupoly equilibrium output, price and profit, b. Stackelberg equilibrium output, price and profit (Pls. show calculations)

Reference no: EM13986256

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